A bakery uses $60$ bags of flour each month. The flour is purchased from a supplier for a price of $$80$ per bag and an ordering cost of $$20$ per order. The bakery$$s annual inventory holding cost percentage is $40\%.$ If the bakery chooses to use the economic order quantity for flour purchases, what will be the total of its holding and ordering costs per year?

Group of answer choices

$960$

$138$

$277$

$480$